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ETFs Rake In $53 Billion In Q1Morningstar • Thu, Apr 11
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ETF Spotlight: PowerShares Senior Loan PortfolioTom Lydon • Mon, Jul 25, 2011
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New ETF Addresses Inflation ConcernsTom Lydon • Fri, Mar 4, 2011
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PowerShares' New Senior Loan ETF Starts TradingTom Lydon • Thu, Mar 3, 2011
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ETFs Rake In $53 Billion In Q1Morningstar • Thu, Apr 11
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There are no Transcripts on BKLN.
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at MarketWatch.com (Jan 17, 2013)
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at CNBC.com (Dec 13, 2012)
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at MarketWatch.com (Dec 12, 2011)
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at CNBC.com (Aug 23, 2011)
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at MarketWatch.com (Apr 28, 2011)
BKLN vs. ETF Alternatives
BKLN Description
The PowerShares Senior Loan Portfolio (Fund) is based on the S&P/LSTA U.S. Leveraged Loan 100 Index (Index). The Fund will normally invest at least 80% of its total assets in the component securities that comprise the Index. The Index is designed to track the market-weighted performance of the largest institutional leveraged loans based on market weightings, spreads and interest payments.
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Country: United States
Key Info
- In Your Portfolio: A Guide to U.S. Corporate Bond ETFs
- Asset Class Performance: Bonds
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Thursday, May 23, 10:12 AM The ProShares High Yield-Interest Rate Hedged ETF (HYHG) starts trading today joining the likes of HYLS and THHY. The fund will short Treasurys to offset its exposure to high-yield corporate debt and comes with an expense ratio of 0.50% - significantly lower than THHY (1.45%) and HYLS (1.19%). Comment!
- Monday, May 20, 12:30 PM The hot market for corporate junk (HYG, JNK) has pushed the yield on high-yield corporates (4.88%) well below that of high-yield municipals (5.22% nominally, over 8% on a tax-equivalent basis). The nominal spread of 34 bps is down from 56 bps a week ago as investors take notice of the anomaly. High-yield muni ETFs: HYD, HYMB, XMPT. 3 Comments
- Monday, May 20, 9:47 AM UBS' 5 "suspected" asset bubbles: 1) Risk-free rates - specifically Treasurys (TLT), Bunds (BUND, BUNL), JGBs (JGBL, JGBT, JGBD, JGBS) 2) Credit (HYG, JNK) 3) Real estate in Asia (WPS) 4) Certain EM equity markets (EIDO, IDXJ, EPHE, THD, EWW) 5) Australian banks (WBK, NABZY.PK, ANZBY.PK, CMWAY.PK). Comment!
- Friday, May 10, 5:57 AM Don't panic, Moody's says, there's "no strong evidence that recent [corporate debt] issuance levels presage a damaging correction." The notion that a bubble is building in the corporate bond market isn't reflected in credit spreads which, for both investment grade (LQD) and high yield (HYG, JNK), are closer to long-run averages than they are to alarmingly tight. Furthermore, the ratings agency says a surge in issuance reflects the "disintermediation of the banking sector" and notes that the proportion of total corporate liabilities comprised of debt securities hasn't significantly increased over the past two years." We can all rest easy now. (previous) 2 Comments
- Wednesday, May 8, 11:38 AM The 5% yield barrier on junk bonds (HYG, JNK) is broken for the first time ever, the Barclays U.S. High Yield Index sliding to 4.97% (prior to Jan., the yield had never fallen below 6%). Spreads to Treasurys remain at a not-unreasonable 406 bps, far wider than the record-tight 223 points reached just as the gates of financial heck were about to open in 2007. In the meantime, the equity of highly non-wobbly companies like RDS.A, VOD, and GSK yields in the area of 5%. "We don't want to question the market," writes the FT's David Keohane, "but: what the (heck)?" 7 Comments
- Monday, May 6, 1:04 PM It's an easy market to hate, but junk bond prices (HYG, JNK) keep going higher, the yield on the benchmark BAML index hitting an all-time low of 5.084%. The spread to Treasurys - treading water for awhile at 475 bps - has broken through that resistance, and is now at 4.33%. The Fed's role here is well-documented, but the latest meme has the BOJ's easing efforts as forcing a fresh wave of cash into the sector. 8 Comments
- Thursday, May 2, 4:18 PM Thursday saw the launch of the First Trust Senior Loan ETF (FTSL), an actively managed alternative to funds like BKLN, SRLN and SNLN. Volume topped out at over 50,000 shares - a relatively strong first day of trading for a new ETF. Sr. Loan funds have seen massive inflows YTD with BKLN gathering the 6th most assets of any ETF according to IndexUniverse and SRLN gathering $155M in AUM in the month since it debuted. FTSL charges 0.85% - slightly less than actively managed counterpart SRLN (0.90%). Passively managed BKLN is the asset leader in the space with nearly $3.8B in AUM and charges 0.66% while SNLN ($77M AUM) is the cheapest of the group with expenses of just 0.55%. Comment!
- Tuesday, April 16, 11:21 AM High yield funds (HYG, JNK) may be out of favor, but senior bank loan ETFs are getting the business, having grown AUM by $18B so far this year, more than the $11.5B for all of 2012. Senior bank loans (BKLN, SNLN) are of similar credit quality to junk bonds, but have the attraction of being floating rate and higher up in the corporate structure. Investment grade funds are available too: FLOT, FLRN, FLTR. Comment! [Financials]
- Friday, April 12, 12:46 PM More from Gundlach: Bond indexing has been a wonderful strategy for many years, but now the well-followed indexes (BND, AGG) have too short of a duration and are overloaded with Treasurys. The value is in non-traditional sectors like emerging markets (EMB), non-agency MBS, bank loans (BKLN), and global high yield (GHYG). 4 Comments [U.S. Economy, Financials]
- Friday, April 12, 12:28 PM Fixed-income may not be being given away as it was in 2010, but there's still value, says Jeff Gundlach, scoffing at talk of a bond bubble. "Raise your hand" if you own Treasurys for yourself or a client, he asked a room full of advisors (none went up). Bonds are not "over-owned" in the U.S., he says, showing cash and fixed income make up a higher percentage of household financial assets in other countries. 5 Comments [U.S. Economy]
- Thursday, April 4, 3:37 PM State Street lists the SPDR Blackstone/GSO Senior Loan ETF (SRLN). SRLN will invest primarily in loans made to N. American businesses and charge a fee of 0.90%, higher than direct competitors BKLN 0.83% and SNLN 0.55%. BKLN has gathered $3B in AUM since launching 2 years ago while SNLN has gathered nearly $61M in 5 months. Comment!
- Friday, March 22, 10:25 AM The recently announced Market Vectors Treasury-Hedged High Yield Bond ETF THHY starts trading today. The fund invests in high-yield bonds, but hedges interest rate risk by shorting Treasurys. It comes with a high expense ratio of 1.45% as compared to similar funds HYLS (1.19%), GYLD and MINC (0.75%). Comment!
- Wednesday, March 20, 10:11 AM The term "high-yield" doesn't quite cut it anymore as the 30-day SEC yield on the High-Yield Corporate Bond ETF (HYG) threatens to drop below 5%. 4 Comments [Financials]
- Thursday, March 14, 2:48 PM Investors continue to pour money into floating-rate and leveraged loan funds - whether in a quest for yield, worries about higher rates, or "friendliness" to just about all asset classes. The PowerShares Senior Loan ETF (BKLN) has $2.7B AUM, thanks to $1.2B of inflows in 2013. Just 4 months old, competitor Highland iBoxx Senior Loan ETF (SLNL) has already pulled in $57M. Eaton Vance (EV) could also benefit thanks to its popular Floating Rate Advantage Fund - poised to double AUM this year. Comment! [Financials]
- Monday, March 4, 9:23 AM The growing consensus against junk bonds in a picture shows soaring short interest in HYG. (via Stifel, h/t ukarlewitz) Comment!
- Thursday, February 28, 8:25 AM Dan Fuss - a bond king even if that title is usually reserved for someone else - takes junk bond (HYG, JNK) exposure in his Loomis Sayles Bond Fund down to 24% of AUM, its lowest level ever. "The 'don't fight the Fed' mentality ... will have to reconcile at some point with the macroeconomic reality that there's more risk in the world than the market is choosing to acknowledge," says DoubleLine's Bonnie Baha, nodding in agreement with Fuss. Comment! [Financials]
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Qniform: EVF is an entirely different category than BKLN. More than 35% leverage is an completely different risk profile.
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diepwjulius
Risk off is on, but I have 20 yrs. ahead of me before I shoot myself at 40 during mid-life crisis. Also like hard assets/floating rate BKLN - View all 0 replies
LATEST REPLIES
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Qniform: EVF is an entirely different category than BKLN. More than 35% leverage is an completely different risk profile.